Exercise 5-16 (Part Level Submission) A comparative balance sheet for Bridgeport Corporation is presented below. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2017 2016 $ 72,790 $ 22,000 84,420 68,630 182,420 191,630 73,420 112,630 262,420 202,630 (71,420) (44,630) $604,050 $552,890 $ 36,420 150,000 214,000 203,630 $604,050 $ 49,630 200,000 164,000 139,260 $552,890 Additional information: 1. Net income for 2017 was $129,840. No gains or losses were recorded in 2017. 2. Cash dividends of $65,470 were declared and paid. 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. (a) Prepare a statement of cash flows for 2017 for Bridgeport Corporation. (Show amounts that decrease cash flow with either a sign ..-15,000 or in parenthesis .. (15,000).) BRIDGEPORT CORPORATION Statement of Cash Flows Adjustments to reconcile net income to 02 ion Issued common stock to retire $ of bonds outstanding